Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Operations upgrade: New technologies come to the fore after the Covid-19 pandemic

The Covid-19 pandemic has led to a significant acceleration of digital transformation. This trend is especially apparent in financial services, where the health crisis prompted an overhaul of legacy processing systems and the widespread implementation of what are known as ABCD technologies – a catch-all term that encompasses artificial intelligence (AI) and automation, blockchain and bitcoin, cloud computing, and digital and datadriven solutions. While such technologies had been growing in importance within the sector prior to the pandemic, 2020 redoubled this trend. Each of the four categories brings with it a range of benefits and potential applications. AI can be leveraged within banking and finance

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Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Setting the agenda: A mainstay of the global tourism sector faced disruption, but also innovation, due to the Covid-19 pandemic

Amid international travel restrictions, social-distancing protocols and prohibitions on mass gatherings in response to the Covid-19 pandemic, the world’s meetings, incentives, conferences and exhibitions (MICE) segment has been forced to adapt, with some events shifting online and others being deferred. Before the outbreak of the virus, MICE presented a promising growth avenue for emerging markets to diversify their tourism offerings. For example, Sharjah has set a 10m visitor target for 2022 and in early 2020 the Department of Commerce and Tourism – Abu Dhabi launched

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Éric N’guessan-Managing Partner-EY Côte d’Ivoire

Sustainable recovery: Countries in the Gulf are turn to ethical investments to support their post-pandemic economic recovery

The Covid-19 pandemic has raised awareness among GCC countries of the importance of environmental, social and governance (ESG) standards. If current trends continue, ESG could become a valuable element of the region’s recovery. ESG standards are used to evaluate potential investments, as well as to enable business leaders to formulate responsible and sustainable corporate strategies. Environmental criteria take into account a company’s environmental footprint, as well as the actions it takes to offset it. Social criteria evaluate how it manages relationships with its various internal

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Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Work and travel: Countries capitalise on the growth of the digital nomad lifestyle

With Covid-19 facilitating the widespread adoption of remote work practices, some emerging markets are seeking to attract so-called digital nomads through a series of incentives and special visas. Despite border closures and travel restrictions resulting from the virus, various countries are stepping up efforts to incentivise the movement of digital nomads – people who work remotely and relocate relatively freely. Pick Your Spot In October 2020 Dubai launched its virtual working programme, an initiative that gives foreign professionals the opportunity to move to the emirate and continue to work remotely in their current jobs. The one-year programme, launched after the emirate reopened its borders to

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Theo Williams-Country Manager-AJEAST Nigeria

Accelerated transition: The pandemic has intensified the shift towards renewable energy

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The year 2020 was a dramatic one for the global energy sector, with the Covid-19 pandemic slashing demand for hydrocarbons and upending market norms. Seeing that investment in oil and gas took a hit while renewable energy remained resilient, the pandemic is expected to result in a permanent realignment of the international energy market. Oil Price Crisis Travel restrictions and government-imposed lockdowns designed to halt the spread of Covid-19 had a considerable impact on energy demand worldwide. Moreover, with industrial capacity significantly reduced due to social-distancing requirements and disrupted shipments, the need for oil and other forms of energy was significantly reduced over this period. This fall

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George Richani-CEO-Al Ahli Bank of Kuwait

Manufacturing reimagined: Logistical and supply chain challenges associated with the Covid-19 pandemic spark a reassessment of historical operations

With travel restrictions, closed factories and social-distancing measures in place for much of the year, 2020 was particularly challenging for industrial companies around the world. However, despite such constraints, many countries were able to successfully repurpose production to meet needs associated with the Covid-19 pandemic, while others look set to benefit from shifting trends in global supply chains. Early Challenges Industry was affected from the moment Covid-19 began spreading across China, which is the world’s largest industrial producer and was responsible for around 28% of global pre-crisis manufacturing output.

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Daouda Coulibaly-Managing Director-Société Ivoirienne de Banque

The right direction: Industries not eligible for the green bond market have a new option to fund their shift towards sustainable activities

As companies look to shift towards more environmentally sustainable operation, those in fossil fuel or heavy-polluting sectors are increasingly turning to transition bonds – a relatively new class of debt instrument used to fund a company’s transition towards reduced environmental impact or lower carbon emissions. They are often issued in large carbon-emitting industries that would not normally qualify for green bonds, such as oil and gas, iron and steel, chemicals, aviation and shipping. In the UAE, for example, Etihad Airways issued a $600m sukuk (Islamic

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Éric N’guessan-Managing Partner-EY Côte d’Ivoire

Trade realignment: Disruptions to supply chains in 2020 prompted new short-term solutions and accelerated existing trends

From national lockdowns to closed airspace and borders, Covid-19 resulted in unprecedented disruption to the mechanics of most economies, regardless of their size or stage of development. In particular, such barriers placed a major strain on global supply chains. This was felt most keenly in the case of essential linkages for food and medicine, and the global distribution of such products became a key focus of response efforts during the early stages of the pandemic. Medicine & Food In the first months of 2020 China – the world’s

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Pham Hong Hai-CEO-HSBC Vietnam

Green base: Infrastructure spending and a focus on sustainability support economic recovery in emerging markets

Many emerging markets are turning to infrastructure projects to stimulate recovery from the Covid-19 pandemic, with a particular focus on green and sustainable developments. Despite the broader downturn in 2020 – which the IMF says resulted in the global economy contracting by 3.5% – the number of newly announced infrastructure projects increased by 5%, according to analysis from global financial data company Refinitiv. In total, 2550 new projects were announced in 2020, with a combined value of $739bn. Of these, 56% were classified as sustainable

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Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Road to growth: Sustainability, well-being and digitalisation emerge as central aspects of global infrastructure programmes

Following a year of pandemic-related disruptions, there appears to be a greater focus on sustainable, digital and health-related projects; for example, in the Belt and Road Initiative (BRI), of which the UAE is one of the key participants in the Middle East. Launched in 2013, the BRI is an ambitious international initiative that aims to revive ancient Silk Road trade routes through largescale infrastructure development. By the start of 2020 some 2951 BRI-linked projects – valued at a total of $3.9trn – were planned or

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